2018 Economic Calendar
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Chicago PMI  
Released On 5/31/2018 9:45:00 AM For May, 2018
PriorConsensusConsensus RangeActual
Business Barometer Index - Level57.6 58.4 56.6  to 59.4 62.7 

Highlights
The Chicago PMI, jumping 5.1 points, is quickly back in the 60s column at 62.7 in May. New orders, which had been slowing, are re-accelerating with backlog orders likewise rebounding. Production picked up in the month as did employment which, however, continues to be held back by lack of available labor. And there are plenty of signs of capacity stress in this sample with delivery delays the longest of the year and with the rise in input costs holding at a 7-year high. All the small-sample indications for May, including this one, have been strong and point to a solid month of growth for the economy.

Consensus Outlook
Easing in orders helped pull down the Chicago PMI to 57.6 in April in what, especially for this sample, was probably a blessing given deepening signs of capacity stress that included a 7-1/2 year high for input costs. Scarcity of steel, following tariffs, was a tangible factor for this sample in April. For May's result, forecasters see the index rising to 58.4.

Definition
The Institute For Supply Management - Chicago compiles a survey and a composite diffusion index of business conditions in the Chicago area. Since October 2011, the survey has been conducted by Market News International. Manufacturing and non-manufacturing firms both are surveyed. Hence, it is not directly comparable to pure manufacturing surveys. Readings above 50 indicate an expanding business sector.  Why Investors Care
 
[Chart]
The ISM-Chicago survey (traditionally and informally called the Chicago PMI) registers manufacturing and non- manufacturing activity in the Chicago region. Investors care about this indicator because the Chicago region somewhat mirrors the nation in its distribution of manufacturing and non- manufacturing activity. Many like to compare the Chicago-PMI with following business day's ISM manufacturing index but they do not always move in tandem since the national ISM is only for manufacturing.
Data Source: Haver Analytics
 
 

2018 Release Schedule
Released On: 1/312/283/294/305/316/297/318/319/2810/3111/30
Release For: JanFebMarAprMayJunJulAugSepOctNov
 


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